Greetings!

Will someone please explain the penny entry form of payment
that has members add one cent, two cents, etc. to help with
keeping track of members payments?

I appreciate any input.

Thanks!

Johnny

Johnny,

Page 28 of The One Minute Treasurer Guide gives a good overview:

http://www.bivio.com/club_cafe/files/TheOneMinuteTreasurer.pdf

You might also look at our Getting Started Guide (page 38):

http://www.bivio.com/f/bivio-guide.pdf

I'll be giving The One Minute Treasurer Talk at BINC this week,
if you happen to be in Schaumburg, IL. :-)

Cheers,
Rob

Johnny wrote:
> Greetings!
>
> Will someone please explain the penny entry form of payment
> that has members add one cent, two cents, etc. to help with
> keeping track of members payments?
>
> I appreciate any input.
>
> Thanks!
>
> Johnny

I hope someone has replied to you by now, although I did not
see an answer in the thread... We are following the example
in the One Minute Treasurer PDF doc, page 28 . It is
working well for us. (search "One Minute Treasurer" in
bivio.com) We are using .01-.99 in consecutive order as
members join, retiring the specific number that designates a
member when they withdraw.

MG

Hi Johnny,

I'm surprised that no one has replied to you yet. The penny
entry system allows members to send in their payment
directly to the broker without letting the treasurer know
his or her amount. When the treasurer sees a check deposit
of a certain amount then he knows who's check it is. This
system is great for my club since we are an online club with
members from multiple states. Let's say Jane is assigned
$0.07. As long as her check amount ends in .07 then I will
know that she sent in her check.

Hope this helps,
John Rice
ABODI Investment Club
A Bunch Of Dummies Investing
Anaheim, CA


Johnny wrote:
> Greetings!
>
> Will someone please explain the penny entry form of payment
> that has members add one cent, two cents, etc. to help with
> keeping track of members payments?
>
> I appreciate any input.
>
> Thanks!
>
> Johnny